Acushnet Holdings Corp. (NYSE:GOLF) Receives $72.80 Average Price Target from Analysts

Shares of Acushnet Holdings Corp. (NYSE:GOLF) have been assigned a consensus rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $72.80.

GOLF has been the subject of a number of recent research reports. StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, KeyCorp cut their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th.

Insiders Place Their Bets

In related news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 54.60% of the company’s stock.

Institutional Trading of Acushnet

Several hedge funds have recently modified their holdings of GOLF. Raymond James Financial Inc. purchased a new stake in shares of Acushnet in the 4th quarter valued at approximately $62,713,000. Jane Street Group LLC grew its stake in shares of Acushnet by 702.1% during the third quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after purchasing an additional 445,281 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Acushnet in the fourth quarter valued at $28,641,000. Norges Bank acquired a new stake in Acushnet in the fourth quarter valued at $14,825,000. Finally, Point72 Asset Management L.P. lifted its holdings in Acushnet by 258.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock worth $16,970,000 after buying an additional 192,034 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Trading Up 1.4 %

NYSE GOLF opened at $68.36 on Tuesday. The company’s 50-day simple moving average is $67.12 and its two-hundred day simple moving average is $67.62. Acushnet has a one year low of $58.54 and a one year high of $76.65. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 23.25 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Equities analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.235 per share. This is an increase from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a yield of 1.38%. Acushnet’s dividend payout ratio (DPR) is presently 28.23%.

Acushnet Company Profile

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.